The reason for lower unemployment rate
Dec 09, 2012
The official US unemployment rate has dropped from 8% down to 7.7%. Talking heads on the news stations do their best to promote the notion that things are getting better. However, part of the lower rate has to do with the number of people who have reached the end of their unemployment benefits without being able to find work. When they stop receiving benefits, they are dropped from the official count and reclassified as "discouraged," rather than unemployed.
Even so, the total number of employed people in America has gone up over 800,000 in the past five months. Good news? Perhaps. But the following report says that 73.3% of them have gotten government jobs.
It gets that much more difficult for the private sector to fund the government's expenses.
Dr. Stephen Jones